After you have thought about how much to charge for your translation services and have built your price-list, you are ready to give translation quotes to translation agencies. Recording all of the translation quotes you give to translation agencies provides you a with a great reference source, which allows you to build a pricing policy that is sound and consistent.

Consistency

That way, you do not surprise your clients with any sudden increases or decreases in your prices. Which in both cases is not good for you, as you can lose either a particular job from the client or the extra profit you would have made. It also allows you to be selective in your pricing. Like airlines, which provide economy, business and first class tickets, you can also be inventive with your pricing. This allows you to find the right, current price on the market by giving varying quotes to different translation agencies.

Flexibility

When you see that the demand for your services is bigger than your capacity you might cautiously raise rates for some of the translation agencies. When demand drops, you can provide some seasonal discounts or lower rates for selected translation agencies.

This lets you check whether the reason is really price competition or a low market for your language pair. All in all, when you can easily track all your quotes, the brand new world of opportunities comes right to your door.

...and many other useful features for successful freelance translators.